After weeks of downtrend, Pi has dipped below the $0.80 mark, sending disbelief through a community that’s already been pushed to its limits. For many, this isn’t just another dip – it feels like a breaking point.
A month ago, Pi was flirting with $3 and setting an all-time high. Now it’s hovering around $0.8 and falling fast. That’s more than a 70% loss in under 30 days. But the real story isn’t just the numbers.
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From Hope to Hesitation
When the Open Mainnet launched in February, Pi users were euphoric. After years of tapping a button on their phones, it finally felt like something real. Despite liquidity issues and a sharp drop at the launch, the price quickly recovered and surged past $2.50. But that didn’t last long.
Within days, massive token unlocks flooded the market. Sellers rushed to cash out, while buyers started pulling back. The excitement turned to confusion, then concern, and now – full-on panic. And with more token unlocks on the way – including a $95 million release scheduled for April – many are worried that the price might go even lower.
Read also: Pi Network Crashes to $0.90 – Everything You Need To Know
Will Domain Auction Help?
In an effort to revive interest, the Pi Core Team launched a .pi domain auction. And at first, it worked – at least on the surface. Over 200,000 bids, nearly 3 million Pi tokens used, and intense competition for high-profile domain names gave the appearance of strong momentum.
For a brief moment, it felt like a turnaround might be possible. But now, Pi is once again one of the worst-performing major coins in the market, and it’s clear that the auction wasn’t enough. The excitement it generated didn’t translate into sustained buying.
Binance Listing Still Missing, Answers Still Vague
Pi Network still isn’t listed on Binance. Or any of the other top-tier exchanges, like Coinbase, Upbit or Bybit (this one probably won’t happen considering the CEO is openly calling the token a scam). And at this point, that absence is starting to feel less like a delay and more like a rejection.
The community was optimistic after they won a Binance poll with an overwhelming 86% of the vote. But a few weeks later, there’s still nothing. Some suspect it’s not just about compliance – it might be about control. Pi’s tokenomics are complex, and critics argue they’re not just unclear, but potentially easy to manipulate:
Selling Pressure Keeps Growing
The chart data doesn’t lie. Pi’s On-Balance Volume (OBV) – a key metric for tracking buying vs. selling activity – has hit an all-time low. That means selling is happening at a pace not seen before, and the liquidity just isn’t there to absorb it.
Over the last seven days, Pi is down more than 25%. That’s during a time when the broader crypto market is actually going up.
Trust Is Running Out
The accusations of Pi Network being a scam by well-known figures are not helping the situation. As we described here, Justin Bons, the founder of CyberCapital, and Ben Zhou, Bybit’s CEO, are openly accusing the project of being a scam. The warning issued by Vietnam authorities might have also shaken confidence, despite not being a direct attack on the Pi Network.
What Now?
Pi is caught in a dangerous cycle. Price drops lead to fear, which leads to more selling, which causes the price to drop even further. The domain auction was a brief bright spot, but it’s already fading.
If the developers have something up their sleeve to address the current issues, this is the moment to reveal it. Because from where things stand, the drop below $0.80 doesn’t just look like a setback – it feels like a sign that control is slipping.
Read also: Can Pi Network Token Reach $1,000? A Serious Analysis
